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Tax Exempt Organizations

As advisors, we seek to condense very complicated tax law requirements into terms that are practical and easy to understand for both new charities and those that that are tenured with hundreds of millions of dollars in assets.

Charitable organizations that are starting out face major challenges from the lengthy, complicated and time-consuming application process for obtaining tax exempt status from the Internal Revenue Service (IRS). For tenured charities, failing to comply with federal tax laws can result in severe monetary penalties, sanctions from the IRS and even jeopardize their tax-exempt status. For more than 50 years, McGrath North has guided newly formed charitable organizations through the process of obtaining their 501(c)(3) statuses and in the complexities involved in the daily operation of a charity. We also counsel all of our charitable clients on avoiding IRS penalties, minimizing applicable tax liabilities and on corporate policies governing conflicts of interest, the making of grants and the use of charitable funds. Our advice is based on a detailed and operational understanding of our various charitable clients and their philanthropic goals.

Industry Experience: Public charities and tax-exempt organizations such as schools, churches, religious organizations, clubs, universities, not-for-profit hospitals, supporting organizations and private foundations.

If you are considering seeking advice from counsel, here is what we suggest you keep in mind:

  • You want to establish whether your legal counsel has significant experience with tax exempt entities and tax law.
  • You want to choose a counsel who understands and appreciates the day-to-day operation of your organization, its policies and ultimate charitable objectives.